DTI off 46%, Income $55k, Sonic Lenders-Tommy Approved!
| Listing Information | |||
|---|---|---|---|
| Amount: | $21,000.00 | Status: | Loan created |
| Grade: | D | DTI: | 63% |
| Lender Rate: | 18% | Borrower: | atlantales |
| Finished | State: | GA | |
| Funded: | 100% | Group: | Sonic Lenders |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2006-10-19 | EricsCC ROI: | 18% |
| Status History | |
|---|---|
| Oct 19, 2006 | Current |
| Aug 02, 2008 | Payoff in progress |
| Aug 08, 2008 | Paid |
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https://www.avuedigitalservices.com/VR/Prosper The Ultimate in Vetting! Click on Attachments to view documentation verifying my identity, credit profile, employment status, and income. My DTI is 46% since this loan is a consolidation, not an additional debt. I have income beyond my current salary as a government employee of $38,000 per year; I receive $500 a month in renter income and $933 a month in Veteran's Benefits payments. Those additional sources are not factored into my income or DTI, but verifiable when you look at the website link above. I bought my first home in Mar '05. The excitement got to me and I ran up credit cards (CC) over the first year with furniture and appliances. My irresponsibility intensified when I became heavily involved with online gaming. A few months ago I got back down to reality and saw that my Fico scores dropped from the mid-700s to the low 600s from maxing everything. I started making changes. 1) Renting out a room to my best friend for extra income. 2) Opened up my finances to my best friend, showing her where my money is going and what debts to pay down. 3) Closed the online gaming account and cut off ways to fund it. 4) Used a debt reduction calculator for the following plan of action: apply an additional $200 a month to min monthly pymts, rolling over the pymt when one card is paid off to another card and so on, to be CC debt free in 39 months. One reason why you should not fund me is because I'm an idiot that ran up $21K in CC debt. However, there are several reasons why you should. My credit file began in '98 and I had only one 30-day late from '01 and one from '02. I am current and have no delinquencies. My credit score is low from maxing everything out, NOT because of derogatoriness. NEVER had 60+ day lates, mortgage lates, collections, judgments, etc. No hidden debts such as PDL or private loans. I have a B.S. in Public Administration. I was Active Duty Army for 8 years with 1 year in Iraq. Debts to be paid off Pymt/Card/Balance 88 Chase 2500 70 Chase 2000 224 Wells 6800 18 Orchard 500 15 Capital 300 58 Alaska 2500 179 DPP 4800 100 AmGen 1500 $20,900 Total Without Prosper Loan $3700 Net Income - $3290 Debt/Other Expenses = $410 Discretionary Income Debt paid off in 39 months WITH PROSPER LOAN $3700 Net Income - $3161 Debt/Other Expenses = $539 Discretionary Income Debt paid off in 36 months Out of compounding interest debt and into a fixed rate loan FICO scores should rise due to a more appropriate use of credit. A loan for $21K scores better than several maxed out cards BUDGET $4599 Gross Income - $2135 Debt = 46% DTI $3700 Net Income - $3290 Debt/Other Expenses = $410 Discretionary Income Income 3166 Gross 933 Veteran 500 Renter $4599 TOTAL GROSS INCOME Salary Deductions 574 Mandatory- fed/state taxes, etc 173 Voluntary med, dental, life, retirement, etc 152 Voluntary 457b retirement 899 Total Deductions $3700 TOTAL NET INCOME Debt Expenses 752 (7 credit cards and 1 loan consolidated with Prosper) 914 Mortgage 384 Auto 85 Student loan $2135 Debt Other Expenses 50 Cell 125 Auto/Home Insurance 380 Utilities (water, elec, cable, etc) 30 Pet medication 150 Gasoline 220 Food 955 Total Other Expenses +plus 200 Debt Reduction (w/o Prosper) -or 80 (823 Prosper is 71 more than the 752 listed above) 1155 Total Other w/o Prosper = $410 Discretionary Income 1026 Total Other Expenses WITH PROSPER = $530 Discretionary Income Miscellaneous variable expenses paid for with Discretionary |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 34151 | Consolidate Credit Cards to One Loan | D | $20,000 @ 21% | Aug 25, 2006 | Withdrawn |
| 34357 | DTI off- 36%, Income $55K, Consolidate Debts | D | $21,000 @ 22% | Aug 26, 2006 | Withdrawn |
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